Petrol Pumps to accept only cash from Monday
New Delhi, Demonetization Effect – It seems cashless days are going to be over if we visit petrol pumps from Monday (9th Jan) onwards. It is being informed that Petrol pumps won’t be accepting credit or debit card for any transaction and people need to pay by cash to refill their tanks.
Petrol Pumps to accept only cash from Monday. Petrol pump dealers across the country have threatened that they might not accept credit/debit cards from Monday onwards. If the bank revert their decision of fee charges then this decision can be reverted.
Recently banks had announced that they would be charging .25 to 1% as transaction fee for the card payments made at Petrol pump. If this decision is taken then it will be great setback for Prime Minister Narendra Modi’s Digital movement.
This decision of not accepting credit/debit card at petrol pumps has been taken by All India Petroleum Dealers Association. They have declared that from 9th Jan this changes would be implemented in entire nation. The association is angry over the charges being taken by the banks.
Karnataka State Federation of Petroleum and Tamil Nadu Petroleum dealers have declared that their respective petrol dealer won’t allow customer to use credit/debit cards from 9th January onwards at their petrol pumps.
The dealers have informed that if they pay the card usage fees then their profit margins will reduce drastically. They required some surplus money to pay for their staff members. After paying the fees amount they might have to face losses. So it is not possible for them to accept cards.